Triaconta Weekly #246

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Revision
  • Market overview

Bundle performance
Bitcoin is moving sideways around $24,000 but remains close to its recent top. Fears of a recession have subsided considerably and investors are generally positive about the next six months. The PennyStock bundle passes the DeFi bundle as the top-performing bundle of the year and next week we will revise the composition of the bundles.

Big3:
1 Month: +3.05% | 7D: +0.25% | 24H: +0.55%

Top30:
1 Month: +9.20% | 7D: +2.55% | 24H: +0.04%

Penny:
1 Month: +20.65% | 7D: +6.43% | 24H: -1.41%

DeFi:
1 Month: +15.21% | 7D: +1.51% | 24H: +1.27%

Winners & Losers

Ankr (+44%) announced big deals this week, including one with Microsoft. Chinese Ethereum competitor Neo (+31%) is doing well following the announcement of relaxed crypto rules in Hong Kong. Yearn.finance (+25%) is rising presumably due to rumours that Ethereum strike will be offered on this platform. There are a few decliners this week. Fantom (-12%) and Polygon (-11%) are handing in some profits and after the AI hype, profits are being taken on Jasmycoin (-11%).

Revision

The crypto market is constantly changing and Triaconta is modifying the composition of its standard bundles accordingly next week. If you have selected automatic revision on your bundle then the changes below will also be applied to your bundle. Stay up to date and turn on revision on your bundle too.

The market always finds new and better projects so after three and a half years, we unfortunately need to drop Tezos (XTC) from the Top 30. We are also already saying goodbye to Chiliz (CHZ). The token has hardly moved in price despite the rising market. Newcomer Aptos (APT) is now the 3rd token in terms of volume after Bitcoin and Ethereum. Together with the other newcomer Lido DAO (LDO), it has gained enough market capitalisation for a place in our Top 30 bundle.

In the Penny Stock bundle, we say goodbye to Just (JST) due to disappointing trading volume and falling price. The weight remains on the layer 1 network Tron (TRX) that Just runs on and the falling confidence in stablecoins naturally also affects USDJ and Just. We also replace Reef (+17% since revision) as trading volume is key in this bundle. Newcomer Oasis Network (ROSE) we have been following for a while and now has enough volume to be added to the PennyStock. The other addition is old favourite Hedera (HBAR) which “unfortunately” had to leave this bundle in May 2021 due to a too high price ($0.30). Because of general market developments, the price dropped below $0.10 a year later. Currently, we see the price and business picking up again and want to include the coin in the bundle once more.

The DeFi bundle only has room for the top 10 so in December 2022 Lido DAO had to make way for Synthetix. As of January, however, Lido DAO has become so popular that we will include this project again in the DeFi bundle at the expense of Synthetix (+33% since revision). Thorchain (RUNE) has dropped in market capitalisation as a general swap exchange and is being replaced by Curve DAO (CRV), a decentralised exchange specialising in stablecoins, which is benefiting considerably from the rapidly changing preferences in the market for the many new stablecoins.

Market overview

Microsoft announced a partnership with Ankr to help businesses and organisations that need access to data from a blockchain via nodes from Ankr. The service will soon be available on Microsoft’s Azure marketplace. Furthermore, Tencent Cloud signed a Memorandum of Understanding (MOU) to develop a full suite of blockchain API services for Web3 projects on Ankr and finally, it was announced that. Ankr is partnering with @Storj to offer node snapshots as a service through its new Chainsnap platform. Ankr is immediately the best-performing coin of the PennyStock bundle.

Google has become a validator of the Tezos network. In the Google cloud computing environment, after previously supporting nodes from Ethereum and Solana, Tezos nodes can now be deployed as well. Integration of tech giants with blockchain projects is always good for trust and prompts other companies to also explore the possibilities. Of course, this is also good news for Tezos.

Electricity in Iceland is very cheap and abundant due to the presence of volcanoes and waterfalls. With an average temperature in July of 14 degrees, it is also a lot colder than in the Netherlands. Bitcoin mining has thus become popular there and the small island now provides 1.3% of the Bitcoin hashrate. Besides local companies, large US Bitcoin miners like Bitfury, Hive and Genesis have also discovered this location. Number one in Europe remains Norway, a country that, like Iceland, runs entirely on renewable energy.

Shiba Inu’s long-awaited metaverse is very likely to be launched next week. Shibarium was created to take the Shiba Inu network to a new level by making it possible to run dApps and smart contracts on it and do large amounts of fast and cheap transactions that on the Ethereum blockchain sometimes cause problems. Most importantly for us, Shibarium is going to help destroy masses of Shib tokens. This is because part of the transaction cost is burnt and so an increase in the number of transactions will increase the number of Shib tokens permanently removed from circulation.

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